Traditionally, workplace facilities’ lighting, HVAC settings, surveillance, and safety & access control were all manually controlled. The use of smart office infrastructures advances with time as a result of changing workplace conditions.
The automated systems, sensors, and cutting-edge communication networks used in smart office systems help to provide centralised control and wireless data transfer for data analysis and monitoring. Due to the multiple advantages of implementing smart office infrastructure, the demand for smart devices for offices and other commercial building spaces is expected to rise. Advanced HVAC systems and automated lighting systems help commercial spaces manage energy in a better and systematic way.
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Smart Office Market: Drivers and Restraints
Increasing the demand for better commercial infrastructure to motivate employees for work is the major factor driving the growth of the smart office market during the forthcoming years. Owing to increase in inclination to adopt energy saving solution at offices is the other primary factor spurring the growth of the smart office market.
Also, increasing internet penetration globally is influencing the installation of better and advance infrastructure, which provides more luxury at commercial places is also contributing to scale the demand for the smart office market.
Also, increase in demand for smart lighting in commercial sectors to save energy cost is another driver for the growth of Smart Office Markets during the forecast period.
Global Smart Office Market: Competitive Landscape
The major player operating in Smart Office Market includes United Technologies Corporation, Koninklijke Philips, Electric SA, Honeywell International, ABB Ltd., Schneider Siemens AG, Johnson Controls, Cisco Systems, Lutron Electronics and Creston Electronics.
- In October 2014, a major player in the smart office market, Schneider Electric launched the Fiber to the Home (FTTH) solution to boost the company’s smart building products segment in the market. This solution aims to enhance the company’s Smart & Intelligent Homes portfolio by providing better services related to lighting & room controls, home automation, building management systems, and security and surveillance systems.
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Global Smart Office Market: Regional Trend
Owing to development in the commercial and industrial sectors in emerging economies such as China, India is the major reason, significantly promoting the growth of the smart office market. Also, increase in demand for better office infrastructure and to deliver good environment to the employees are the key reason driving the adoption of the Smart Office Market during the forecast period.
In Western Europe and North America region and are dominating the smart office market, due to the availability of better technology infrastructure. Therefore, the smart office market is projected to exhibit the promising growth rate in the developed region such as Western Europe and North America region in the forthcoming years.
Global Smart Office Market: Market Segmentation
Global Smart Office Market can be divided into three segments, on the basis of Product, Building Type, and Region.
Segmentation on the basis of the Product of Smart Office Market as:-
- Smart Lighting
- Security and Access Control Systems
- Audio Video Conferencing Systems
- Energy Management Systems
- Smart HVAC Control Systems
- Fire and Safety Control Systems
Segmentation on the basis of the Building Type for Smart Office Market as:-
- Retrofits
- New Office Buildings
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